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Judge Says Real Estate Giant Cushman and Wakefield Broke Rules for Donald Trump

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A New York judge said Cushman & Wakefield, one of the world’s largest real estate companies, broke its own rules to ease the Trump Organization and the chronic practice of the former U.S. President to inflate the value of his assets. I decided.

Judge Arthur F. Engoron’s surprising allegations were included in a court order on Wednesday, officially instructing Cushman & Wakefield to submit a document to the Attorney General of New York’s office.

Attorney General of New York Letitia James said that as part of a plan to commit banking and insurance fraud, prosecutors have determined that it is a long-term pattern of hype about the value of golf resorts and buildings in California and New York. I’m investigating the Trump Organization.

In his order, the judge indicated that he had personally reviewed confidential documents in court privacy, indicating that Cushman & Wakefield employees played with them.

“The court reviewed a number of documents in the camera showing that C & W was inconsistent in adhering to internal quality control practices when conducting assessments on behalf of the Trump organization,” he said. I am writing.

By enforcing the AG subpoena, Engoron’s court order adds significant support to the New York investigation, which may be the final stage of the investigation. At the end of the investigation, James will be able to sue the Trump Organization and others for violating state business laws and permanently close them for financial damages.

“It is OAG’s authority to investigate C & W’s assessments to determine whether C & W properly and accurately discloses to regulatory and other governmental authorities whether internal quality controls are being followed. It’s within range, “added Engoron.

Sawnie A. McEntire, a Texas lawyer representing a real estate services company, did not immediately respond to a request for comment.

In its multi-year study, AG’s office found Trump’s skyscrapers at the Trump Tower on Fifth Avenue in New York City, his private golf club, and the forested Seven Springs property north of the city. We have already collected hundreds of thousands of documents explaining how we evaluated them. Other golf clubs near Los Angeles.

Some of the evidence released by James in January revealed the ridiculous length Trump went to inflate the value of his property. The company of the former president, who was impeached twice, repeatedly relied on Cushman & Wakefield to assess the value of these assets.

Investigators claim that additional evidence from Cushman & Wakefield is needed to see if the company has played fast and loosely with other clients. The company argues that passing such proprietary data to law enforcement agencies would violate the company’s right to keep them secret, and opposes it.

In court on Monday, AG lawyers detailed how their investigators captured Kushman & Wakefield employees who were lying in a way that would benefit the Trump organization.

Assistant Attorney Austin Thompson explains how company appraisers routinely abandon their responsibilities and default to whatever Trump’s company and its outside lawyer, Sheri Dillon, want from them. Did. He cited two cases, Los Angeles and Seven Springs, when he claimed that the appraiser created a valuation that took into account the planned real estate development timeline.

“In both cases, it seems that Kushman’s appraiser created a development timeline and mistakenly attributed it to someone else,” Thompson said in court on Monday.

According to Thompson, when an investigator asked the company for the necessary records, it responded in an “uncompromising and unruly” way. He passed the document without explanation or context, leaving no clue to the lawyer how to organize the evidence.

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